XE Trade

[wen-tom]

Anyone used XE trade to transfer money to the US?

 

[Elise79]

Yep - use them all the time to transfer money to our SunTrust account. Money usually arrives next working day.

 

[wen-tom]

oh thanks Elise thats what I am looking to do. I usually use my banks transfer but just stumbled across this and the rates seem much better.

 

[wildwood]

Good morning I always use the postoffice as they are free to send money ( has to be a min of £250) and if you reciving bank charges you you give postoffice a call and they refund the charges , money always in the account in two days of sending .

 

[Disneymad]

Like Elise79, I use XE Trade to transfer to my Suntrust account. Never had a problem with them, good exchange rate too and live prices which means that if the exchange rate goes in your favour throughout the day you can lock in that price, even if it goes back down 30 mins later, unlike most currency exchange which set their own fixed prices at the end/start of each day.

 

[wen-tom]

can i ask anyone using XE - which type of transfer do you use? I am not sure of the differences but would obviously prefer one with no charges..

 

[Sid74]

I don't know if you still need the information you asked for?

I rang and asked them what to do the first time.

I was told to use the basic trade. Section A) From is GBP to is USD, then put in the amount to transfer. Section B) is done by wire. Section C) You choose ACH/EFT as the way of paying the funds into your SunTrust account. The recipient is your details, and your SunTrust account details. Section D) is the quote. This tells you the exchange rate you are being offered.

If you like the quote you press the confirm deal button at the bottom of the screen.

You have then locked in the rate, and this is what you have contracted to pay.

You will be sent an email confirmation telling you what to do next. You send a reply email confirming your UK bank account details. Then you go to your UK bank account and make a payment using the code you have been sent as a deal confirmation.

The money should be in your US bank account within a few days.

I hope this helps.

It really is quite straight forward, once you know what you are doing. But it is quite daunting the first couple of times. I still have to double check everything when I move money